so far all I've read that's actually new material (as opposed to original 70's and 80's material) is the Labyrinth Lord core book and everything from LotFP
I'm a little confused by this... Labyrinth Lord is restating an entire ruleset. I like it and am glad it exists but I don't think it's "new". Or I'm not understanding you.
As to your second query, I would start reading the oldest stuff first. In general the chaff will start to overwhelm the wheat as you move forward. Also, you'll be able to ignore quite a bit as things are repackaged and reissued for "new editions".